Trump Media & Technology Group is planning to raise up to $ 3 billion to invest in Cryptocurrency as Bitcoin, signaling a bold bet on digital assets as the president’s administration pushes the US a global cryptocurrency center.
The media company behind the social truth, which is controlled by the Trump family, is aiming to secure $ 2 billion in new capital and an additional $ 1 billion through a convertible bond offer, people familiar with plans said to the Financial Times.
The announcement may come as soon as possible this week, just in front of a large Summit of Cryen Investors in Las Vegas, where Vice President JD Vance, Donald Trump Jr.
The post has requested comment from TMTG and the White House.
The size, time and structure of the agreement are still being completed, reported FT.
Two sources told the newspaper that the offer has increased in recent weeks second for the strong interest of investors.
In one state, TMTG withdrew in covering the media media, saying: “Apparently Financial Times has dumb writers listening even sources of fraud” but did not provide further details.
Representatives for Donald Trump Jr. They refused to comment and the White House also did not respond.
Funding attempt is the latest example of the growing embrace of the Trump family of Cryptocurrency, raising new questions about potential conflicts of interest after the championally actively the sector.
Trump has pledged to turn the US into the “Crypto Capital of the World”, and Bitcoin’s price has increased, hitting a high record of $ 109,000 last week.
The TMTG approach reflects that of companies like Microstrategy, now known as a strategy, which has seen its market value increase $ 100 billion after debt and capital conversion to Bitcoin Holdings.
TMTG shares closed on Friday $ 25.72, giving the company a market capitalization of nearly $ 6 billion.
The new capital will be launched on a market basis, meaning that the shares will be sold near the current price.
The Trump family’s involvement in cryptocurrency has accelerated over the past year. Their ventures include NFT trading cards, two memeins and investments in crypt firms like Bitcoin American and World Liberty Financial.
TMTG also plans to launch a Cryptocurrency -centered exchange train fund.
Last week, Trump hosted a private gala to invest in his Memecoin project in his near Washington resort, DC.
ClearsStreet and BTIG are expected to serve as signatories for the agreement.
Trump transferred 53% of his shares to TMTG to a revocable faith overloaded by Donald Trump Jr. After last year’s re -election giving his son full control over the properties.
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